November 21, 2008

Hyundai Heavy bags USD 792 million deal for 8 Ships

World's largest shipbuilder South Korea's Hyundai Heavy Industries Co announced on weekend that it has clinched a deal valued at KWR 758 billion (USD 792 million) to build eight bulk carriers.

The contract with a Liberian shipping company calls on the shipyard to deliver the vessels by July 2010.

Hyundai Heavy delivered 81 vessels valued at USD 6.85 billion in 2007 as compared with 73 vessels worth USD 4.81 billion in 2006. Hyundai Heavy plans to deliver 134 ships in 2008 and expects to win USD 27.4 billion worth of orders this year.